Magic Leap raises $793.5 million in funding round led by Alibaba

Magic Leap Inc, a startup focused on augmented reality technology, said on Tuesday it had raised $793.5 million in a funding round led by Chinese ecommerce giant Alibaba Group Holding Ltd (BABA.N).

Magic Leap, which counts Alphabet Inc (GOOGL.O) and Qualcomm Inc (QCOM.O) among its investors, said money also came from Time Warner's (TWX.N) Warner Bros unit and investment arms of Fidelity, J.P. Morgan (JPM.N) and Morgan Stanley (MS.N).